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Private persons, entities owe the Greek state 142 billion euros

The Greek Independent Authority for Public Revenue (AADE) published lists with the names of individuals and legal entities with outstanding debts over 150,000 euros to the state and/or the social insurance fund (e-EFKA).

Τhe lists, whose posting was announced this past week, include 10,168 individuals and 16,839 legal entities whose debts have been in arrears for at least a year and have taken no action to repay them by the deadlines.

Worth noting that the debts of persons and entities on the published list exceed the amount of 142 billion euros – in total as much as the budgets of the Greek state for two years, comments protothema.

Among the debtors are reportedly just a few well-known persons who stand out in these lists, even though the number of debtors with debts over 150,000 euros has doubled in recent years, from approximately 13,000 of entities and natural persons in 2011 to 27,007 in 2023. At the same time, unknown names of foreigners have tripled, now reaching 1,000 out of a total of 10,168 natural persons on the list.

Also worth noting is the fact that several entities have shut down long time ago.

It should be noted that the publication of the identity of debtors with high outstanding debts to the state (including taxes and tariffs) and/or insurance funds is mandatory by law.

Prior to publishing the names, each debtor was informed repeatedly through email to settle their debts.

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  1. Isn’t that like almost half of Greece’s debt or something?

    • Not quite, Dejan, but a significant chunk. Greek government debt was just over €400 billion in the first quarter of this year.

      Just think, if they all settled their debts the rest of us could have a 2 year holiday from paying any tax at all. Having just paid mine for 2022, ouch, I’d vote for that.

      • If they could settle these debts. A lot of that is tied down and assets need to be liquefied. Companies would go belly up. People would lose their houses. But all this they could have known.

        It will not happen with this government though.

      • PS What is the tax rate in Greece for ordinary citizens?

        • it’s a lot. If you’re working as a wage slave, then your employer’s total out of pocket expense is about twice what you ever see in your hands. If you’re self-employed, then you end up keeping about a third of whatever your customers hand over to you.

        • Greek income tax rates are:

          €0-€20.000 — 22%
          €20-€30.000 — 29%
          €30-€40.000 — 37%
          €40.000+ — 45%

          The top tax rate of 45% is more on the low side internationally. But in Greece it kicks in earlier than in other countries (at €40.000+).

          The bottom bracket is an insult. Every country that I know has a bottom bracket with 0% tax rate (typically around €0-€10.000 or a little more). So the poor buggers who earn virtually nothing still have to pay income taxers. Not to mention the fact that Greece also has imputed taxes (i. e. the state imputes that you have income if, for example, you own a car).

      • I remember looking into this issue during the years of the crisis and, at that time, very large portions of these past-due tax debts were simply uncollectible because the debtors no longer existed (bankrupt or whatever).

    • Central Government Debt (this is what the state owes to domestic and foreign creditors; i. e. sovereign debt) is currently €401 billion. External debt (this is what every Greek person and/or company or state) owes only to foreign creditors) is currently €550 billion.

      • We are living on Planet Debt. So much debt everywhere. But how do creditors provide so much credit? Seems to be magically appearing out of the sky.

  2. but hey! no worries! we’re busy auditing with a fine-toothed comb everyone who had income under 10K instead of knocking on the doors of any of these people whose names we even see listed publicly!

  3. Don’t trust Greeks.

    And they say Greece is economically sound lol.

    It’s so unfair to others, this could be a great country for all,

    But, unfortunately it isn’t that way and it will never be.

    Perhaps if the Greeks stop scrambling for wealth with scams the country would prosper and that includes the corrupt government.

    • This is a great country for all that hurts no one. Imagine if the country of Germany paid its debt to us including whats owed to my parents how great it would be. Imagine if Germans didn’t ask us to work extra hours for less money so they can have their 32 hour work weeks with twice our pay how great this country would be. Unfortunately as Greeks we have to contend with rich crooks like yourself. I’m ok with not paying the government because it gives us the money to provide our children with what they need instead of German crooks. PS. I gave up my wealthy north American life style to get away from western crooks to live with Greeks.